Share capital trends

YearIssueChange in share capital, SEKShare capital, SEKNumber of sharesNominal value, SEK
1960 Original capital   200,000 200 1,000
1984 Bonus issue 9:1 1,800,000 2,000,000 2,000 1,000
1984 Split 1000:1   2,000,000 2,000,000 1
1984 New share issue 1:2 à SEK 32 1,000,000 3,000,000 3,000,000 1
1986 Bonus issue nom. SEK 1 to 10 27,000,000 30,000,000 3,000,000 10
1986 New share issue  1:3 à SEK 75 10,000,000 40,000,000 10,000,000 10
1987 Bonus issue 1:1 40,000,000 80,000,000 8,000,000 10
1995  New share issue in specie à SEK 43 109,302,320 189,302,320 18,930,232 10
2000 Redemption of shares -9,396,690 -9,396,690 17,990,563 10
2001 Reduction -7,376,200 172,529,430 17,252,943 10 
2002 Reduction -11,363,000 161,166,430 16,116,643 10
2003 Reduction -13,115,000  148,051,430 14,805,143 10
2004 Reduction -20,051,430 138,000,000 13,800,000  10
2005 Split 5:1   138,000,000 69,000,000 2
2005 Reduction -7,000,000 131,000,000 65,500,000
2006  Reduction -3,000,000 128,000,000 64,000,000 2
2007 Reduction -4,000,000 124,000,000 62,000,000 2
2008  Reduction -6,000,000 118,000,000 59,000,000 2
2011 Split 3:1   118,000,000 177,000,000 0,67
2011 Reduction -3,333,333 114,666,667 172,000,000 0,67 
2012 Bonus issue 57,333,333  172,000,000 172,000,000 1
2013 Reduction -2,000,000 170,000,000 170,000,000 1
2015 Split 2:1   170,000,000 340,000,000 0,50
2017 Reduction -5,000,000 165,000,000 330,000,000 0,50

Data per share

The completed share split, like the repurchases we carry out, aim to make the share more attractive. Through the share split, it will be possible for more persons to buy and own a larger block of shares. We have a lot of capital and the buybacks are a way of using it to benefit the company.

— Susann Linde, CFO and head of Investor Relations

REPURCHASE OF SHARES

Wallenstam is mandated through resolutions at AGM’s to repurchase Wallenstam shares. The purpose is to enable any possible acquisitions to adjust the company’s capital structure and thus contribute to the more efficient use of the company’s resources. Wallenstam has used this ability through regular repurchases since the year 2000.

Wallenstam’s repurchases are based on resolutions passed each year at the AGM. The AGM authorizes the board to take decisions concerning the acquisition of the company’s own shares, with certain restrictions.

Repurchase announcements
Wallenstam’s repurchases are announced on completion of the purchase. The latest information is available on the Stockholm NASDAQ website, which is updated daily.

Repurchasing restrictions
A number of restrictions apply to repurchases. These derive from AGM resolutions, legislation and other regulations. The limitations are:

  • The 10 per cent rule: Wallenstam may own no more than 10 per cent of its own shares at any given time.
  • Non-restricted equity: Only non-restricted equity may be used to repurchase the company’s own shares.
  • The insider rule: No purchases may take place for a period of 30 days before the report date and on the reporting date itself. During this period, Wallenstam is considered to have such good information about profit or loss that it is deemed an insider.
  • Share price range on the stock exchange: The acquisition of shares through trading on the stock exchange may only take place at a share price within the price range prevailing at the exchange at any given time, meaning the spread between the highest purchase price and the lowest selling price.
  • Payment for shares must be made in cash.
  • General repurchasing regulations: Worth mentioning among such regulations is the fact that Wallenstam may not influence trade in its own shares by purchasing more than 25 per cent of the average daily share turnover for the four previous calendar weeks. Exceptions are made for so-called block transactions.

Dividend policy

Reported earnings must be re-invested primarily in operations to enable continued development of the Group’s core business and thus engender asset value growth. The ambition is also for operations to provide a stable level of dividends over the long term. However, the distributable amount must never exceed realized profit before unrealized changes in value and impairment charges after the standard tax rate.

When determining the size of the dividend, consideration must be given to the company’s investment requirements, its equity/assets requirements, its position in general and the ability of the Group to develop while maintaining its financial strength and freedom of action.

Dividend SEK/share

2017201620152014
1.80 1.70 1.50 1.13